BCE Correlations

BCEPF Stock

USD 14.58 0.04 0.27%

The current 90-days correlation between BCE Inc and Telecom Italia SpA is -0.02 (i.e., Good diversification). The correlation of BCE is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.

BCE Correlation With Market

Good diversification

The correlation between BCE Inc and DJI is -0.14 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding BCE Inc and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to BCE could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace BCE when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back BCE - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling BCE Inc to buy it.

Moving together with BCE Pink Sheet

0.65	PPERF	Bank Mandiri Persero	Pair Corr
0.74	PPERY	Bank Mandiri Persero	Pair Corr
0.68	SPOI	SPO Networks	Pair Corr
0.67	HIRU	Hiru	Pair Corr
0.81	CALC	CalciMedica, Common Stock Trending	Pair Corr
0.81	ALVLF	Big Ridge Gold	Pair Corr
0.61	KODK	Eastman Kodak	Pair Corr
0.61	GSVRF	Guanajuato Silver	Pair Corr
0.61	DC	Dakota Gold Corp	Pair Corr
0.79	SPGI	SP Global	Pair Corr
0.66	NGENF	NervGen Pharma Corp	Pair Corr

Moving against BCE Pink Sheet

0.62	T	ATT Inc Sell-off Trend	Pair Corr
0.5	DTEGY	Deutsche Telekom	Pair Corr
0.47	DTEGF	Deutsche Telekom	Pair Corr
0.45	NTTYY	Nippon Telegraph	Pair Corr
0.43	PTAIF	PT Astra International	Pair Corr
0.38	BKRKF	PT Bank Rakyat	Pair Corr
0.31	PNW	Pinnacle West Capital	Pair Corr

Related Correlations Analysis

	TIAJF	TIAIY	TCPFF	VODAF	LBRDA	TLTZY	TIAOF	TLTZF	AAFRF	HLTOY
TIAJF		0.61	0.53	0.0	-0.84	-0.65	0.66	-0.47	0.71	0.42	TIAJF
TIAIY	0.61		0.47	0.0	-0.55	-0.2	0.4	-0.64	0.47	0.17	TIAIY
TCPFF	0.53	0.47		0.0	-0.78	-0.48	0.45	-0.25	0.76	0.82	TCPFF
VODAF	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	VODAF
LBRDA	-0.84	-0.55	-0.78	0.0		0.73	-0.74	0.39	-0.92	-0.69	LBRDA
TLTZY	-0.65	-0.2	-0.48	0.0	0.73		-0.56	0.15	-0.6	-0.5	TLTZY
TIAOF	0.66	0.4	0.45	0.0	-0.74	-0.56		-0.31	0.79	0.49	TIAOF
TLTZF	-0.47	-0.64	-0.25	0.0	0.39	0.15	-0.31		-0.36	0.0	TLTZF
AAFRF	0.71	0.47	0.76	0.0	-0.92	-0.6	0.79	-0.36		0.76	AAFRF
HLTOY	0.42	0.17	0.82	0.0	-0.69	-0.5	0.49	0.0	0.76		HLTOY
	TIAJF	TIAIY	TCPFF	VODAF	LBRDA	TLTZY	TIAOF	TLTZF	AAFRF	HLTOY

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

HLTOY	+ 0.82	TCPFF
AAFRF	+ 0.79	TIAOF
AAFRF	+ 0.76	TCPFF
HLTOY	+ 0.76	AAFRF
TLTZY	+ 0.73	LBRDA
AAFRF	+ 0.71	TIAJF

High negative correlations

AAFRF	- 0.92	LBRDA
LBRDA	- 0.84	TIAJF
LBRDA	- 0.78	TCPFF
TIAOF	- 0.74	LBRDA
HLTOY	- 0.69	LBRDA
TLTZY	- 0.65	TIAJF

Risk-Adjusted Indicators

There is a big difference between BCE Pink Sheet performing well and BCE Company doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze BCE's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
TIAJF	0.46	0.21	0.00	1.06	0.00	0.00	0.00	0.00	15.52
TIAIY	1.30	0.38	0.12	4.46	1.03	(3.26)	4.15	(2.30)	12.97
TCPFF	3.54	1.98	0.00	(0.66)	0.00	0.00	0.00	0.00	118.75
VODAF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
LBRDA	1.55	(0.44)	0.00	(0.25)	0.00	0.00	2.94	(3.83)	8.47
TLTZY	1.23	0.07	(0.02)	(0.11)	1.74	(1.15)	2.50	(2.89)	6.91
TIAOF	0.45	0.13	0.00	(0.57)	0.00	0.00	0.00	0.00	19.87
TLTZF	0.16	(0.09)	0.00	5.70	0.00	0.00	0.00	0.00	5.29
AAFRF	2.27	0.64	0.12	(0.89)	2.51	(3.32)	9.15	(4.55)	22.79
HLTOY	1.01	(0.01)	(0.03)	0.05	1.20	(1.32)	2.81	(2.39)	6.81

Be your own money manager

Our tools can tell you how much better you can do entering a position in BCE without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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